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Seventh Circuit Vindicates Secured Lenders' Right to Full Payment

The U.S. Court of Appeals for the Seventh Circuit held on May 5, 2009, that two secured lenders were fully secured, "entitled to a full recovery" from the debtor ("UAL") despite the bankruptcy court's improper valuation of the collateral (improved airport terminal space) securing the lenders' underlying $60 million loan.

26 minute read June 23, 2009 at 08:46 AM
By
Michael L. Cook
Seventh Circuit Vindicates Secured Lenders' Right to Full Payment

The U.S. Court of Appeals for the Seventh Circuit held on May 5, 2009, that two secured lenders were fully secured, “entitled to a full recovery” from the debtor (“UAL”) despite the bankruptcy court's improper valuation of the collateral (improved airport terminal space) securing the lenders' underlying $60 million loan.

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